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24-05-2023
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Chuck, a single taxpayer, earns $79,000 in taxable income and $14,400 in interest from an investment in City of Heflin bonds. (Use the U.S tax rate schedule.)
Required:
1. How much federal tax will he owe?
2. What is his average tax rate?
3. What is his effective tax rate?
4. What is his current marginal tax rate?

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